Why did XPL's EPS stagnate in Q3 2023?

The EPS of Solitario Resources (XPL) in Q3 2023 was -$0.02, which indicates a loss for the period. To understand why XPL's EPS stagnated in Q3 2023, we need to analyze the company's financial performance and any significant events or investments that may have impacted its profitability.

1. **Investment by Newmont Overseas Exploration**: In Q2 2023, Solitario Resources received a $2.5 million investment from Newmont Overseas Exploration. This investment was used to advance exploration activities at its core projects and for general corporate purposes. Such investments can sometimes lead to increased expenses, which may negatively impact short-term profitability as evidenced by the EPS of -$0.02 in Q3 2023.

|code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|XPL|XPL.A|Solitario Resources|2023 Q1|0|-0.01|170|
|XPL|XPL.A|Solitario Resources|2023 Q2|33.33333333333333|-0.02|170|
|XPL|XPL.A|Solitario Resources|2023 Q3|0|-0.02|170|

2. **Exploration Activities**: Solitario Resources is focused on high-quality Tier-1 gold and zinc projects. The company's exploration activities, especially at its Golden Crest gold project in South Dakota and the Florida Canyon zinc project in Peru, require significant investment. These activities can lead to increased expenses, which may result in a negative EPS in certain quarters.
3. **Market Conditions**: The mining industry is sensitive to market conditions, including commodity prices. If the market conditions for gold and zinc are not favorable, it can impact the company's revenue and, consequently, its EPS. However, specific market conditions affecting Q3 2023 are not available, so this aspect cannot be fully assessed without additional information.

In conclusion, the stagnation of XPL's EPS in Q3 2023 can be attributed to the investment by Newmont Overseas Exploration and the ongoing exploration activities, which can temporarily strain the company's financial performance.